India's Apr-Nov fiscal deficit at $36.4 bn

Written by Reuters | New Delhi | Updated: Dec 31 2008, 21:18pm hrs
India's fiscal deficit during April to November stood at 1.77 trillion rupees ($36.4 billion), or 132.4 per cent of the annual target, the government said on Wednesday.

In February, the government set a fiscal deficit target of 1.33 trillion rupees, or 2.5 per cent of gross domestic product for the 2008/09 fiscal year, lower than 2.8 per cent in the previous year.

But it has pledged to spend an extra 1.47 trillion rupees during this financial year to stimulate a slowing economy, and this has widened the fiscal gap beyond the annual target.